Sellers/Buyers roll call part 3. Who is still on this treadmill?

[MovingNextYearHopefully]

A slight name change for me, as I'm clearly not moving this year. Well, I am, but not into the house I'm buying.

Went to the development today, had a chat with the girls in the office & updated them. Hopefully we will be exchanging contracts next week should all go to plan. We found a nice house to rent, but its so bloody expensive I'm petrified! As long as we complete within our 6 month rental contract then all will be well, but if we don't then things will get ridiculously expensive!

Oh @MovingNextYearHopefully that's rubbish

@moving - it is amazing how selfish people can be!

So our story keeps changing - it now looks like we might rent out our house for a while rather than sell. Wait for the market to pick up!

We have friends of friends who came round last night and LOVE the house. They know the area and are more than happy for us to find the perfect place to rent, so maybe that's what we'll do.

Ofcourse as this is all happening, we then get a viewing today at 10 - I feel like curve balls keep getting thrown at me! Decisions decisions!

Thanks twinkydink and ladyofletters! We’re pretry naive so it’s good to hear that you agree and we’re not being foolish.

That really really sucks moving. People are utterly selfish sometimes. Our 1 bed flat in North London will be unoccupied from mid-Jan until we sell if that’s any good to you?

Oh moving, that stinks. Hopefully your email will make them see sense and understand the real lives and challenges of other people in the chain and not just random names who, in their minds, are being difficult. It's easy for people to lose sight of anything other than their own impatience, so I'll keep fingers crossed.

Maybe, good luck for the viewing today!

Our EA is scratching her head and can't understand why there's so much online activity and yet no viewings and no offers. They're convinced we're on at the right price and it's just a case of waiting, so that's what we'll do. Week 6 and counting...

@uninspiring - how many viewings have you had now?

Our viewing seems to have gone well - they've come back and asked some additional questions so that's a good sign. Isn't it typical now that we've started to get our head round the renting option!

Just received our mortgage offer (approved within a week), however the value of the house they have given within the doc is significantly lower than our agreed price (agreed to buy at 295K and lender’s value is 200k). This leads me to wonder if the surveyor actually came out for the valuation??? The bank (HSBC) is not interest in a proper survey at all and said it’s entirely up to us! (valuation is free) I guess they might just searched all the data online and value the house based on the previous selling price (185k last year, since then the vendor did a throughout renovation). The average house price on that street is around £275k. So we will instruct a proper survey from an independent surveyor to get a second opinion.

I'm back in again, I was on this thread what feels like 8 years ago but was probably around January.

I am selling my shared ownership flat and buying a house. I am now 14 months into the process and on my 3rd round of buyers. I have had two sales fall through at the point of exchange, each after 4 months of enquiries, searches and all that good stuff. The first fell through because my buyer got cold feet and started worrying about the length of the lease. My second one fell through because the housing association declared the buyer couldn't afford it right at the last minute. I am now currently sitting in my flat while it is being packed up around me but we haven't yet managed to exchange. I have been told every day this week that we will exchange by the end of the day but my mortgage offer expires on Monday so I now can't wait to get the packing started because every removal company I have approached tell me it is a two day job so if I didn't have the packing started today I wouldn't be able to move on Monday regardless!
I have spent my day chasing my agent, my solicitor and the housing association to see if we can drag this to and end but it is looking unlikely.
That means I will need to reapply for my mortgage and will spend the next few weeks living out of a suitcase surrounded by boxes!
I am trying to hold it together but I really don't know if I can keep doing this :(

Creeping towards the finish line here, the land registry agree that our drive should indeed have been signed over to us when we bought the house so that's underway! The leaseholders solicitor have sold requested the paperwork to sort out the ownership of our garage! Come on everybody!!!

Thank you all for your kindness & in particular ThoughtAboutThisTooMuch for the kind offer.

Its been a horrible day. Our solicitor rung us first thing & proceeded to try to get through to our buyers solicitors in the hope that they would contact their selling solicitors & get a message through to the buyers buyers solicitors. Its all a riduculous game of chinese whispers with all the solicitors & the housing association (except ours & the developers) refusing to communicate, quoting GDPR. This has definitely slowed up what should be so much more straightforward since the advent of the internet!

Our EA ignored us. Probably still putting his toys back in the pram after we refused to roll over & risk making our family homeless in order to save his commission. Eventually after a day of worry the EA messaged us half hour before close of business to say that the buyers buyers have finally agreed to the date we suggested. Because it was so late we can't exchange until Monday now, which means 3 1/2 weeks between exchange & complete, but we have a couple of options hopefully so didn't insist on extending the date further.

Fingers crossed it actually happens now. So much to do & so little time.

Oh @MovingNextYearHopefully what a day! But at least it's creeping towards some sore of resolution! I bet you're also in the 'we're NEVER doing this again crew!'

Oh usually that sounds like an absolute nightmare! I can’t imagine having to go through the whole process 3 times. I hope you manage to exchange on Monday and you get into your lovely house soon.

That sounds very positive tokyo. When the land reg were changing something for us they marked it as ‘urgent’ so that it would get actioned within 24hrs. Don’t know if that’s something you can request if you’re in a hurry?

Sounds like another very stressful day moving but at least it’s inching closer!

Sounds like you're almost there now Toyko. 🤞

Your situation sounds as bad as ours Usually. Bloody nightmare. I hope you also manage to exchange on Monday. Are you looking to exchange & complete on the same day? What is still outstanding from your sale thats delaying things?

Managed to get a bit of sleep last night so feeling a bit better today. We managed to reserve some storage today for our stuff, so that's one thing off the list. Just the main one of actually having somewhere to live that's outstanding. If we can't get into the furnished short term lets place then we do have another option of a house which we can rent for only 3 months but extend the time if necessary. This may be preferable because we'd have our own stuff with us, but the short term let is within walking distance of the kids college so would save us a bit on petrol.

🤞 Monday is a date to exchange for those of us ready & next week is a good productive one for everyone else!

Hi all! I've been off the thread as nothing much was happening. Now our sale has stalled because during a very long mortgage approval process, one half of our buyer couple has had a couple of missed payments show up on their credit file. My EA says that it's a case of confused identity and they are working to prove this to the lender. The EA is acting as mortgage broker, solicitor and sale EA so clearly have the motivation to push this through.
However, the EA has also said they think we should remarket the property.
It's tenanted and they are due to leave in a couple of weeks. We will struggle to keep it vacant and pay our rent at the same time for long!
That's why we accepted the rather low offer. If we lose these buyers the next offer will need to be higher to make up for costs incurred.
My solicitor has done a lot of the ground work. I now feel foolish as I was only going on the EA's word that the mortgage would be fine for our buyer. Am I going to be liable for hundreds/thousands to my solicitor?!

Can I join! Were due to exchange in a few weeks. The house were buying is empty, as in not lived it. Certainly not empty of things! Went for a viewing yesterday with builder and our kids. The place is a shit tip! Crap every where. Rubbish, photos, stuff. The family of the owner (in a home) live over an hour away and so far have been slow with paperwork etc. So annoying. Just know on completion we're going to be left sorting through it all and hiring a skip, probably more than one 😖

Im so sorry Tiddle. We had the same problem last year with our buyers buyers. (Missed previous mortgage payments.) They ended up going with Kensington, who lend to people traditional lenders won't touch. It took 6 weeks where they apparently went through everything with a fine-toothed comb. Then they had the survey & they were turned down because the flat they were buying is above a commercial premises. We were furious. You can fucking see its above a vets in the EA details! Having said that, going with one of the high risk client lenders could be an option for your buyers though. As long as you're not above a commercial premises.

Hi trev. The property should be cleared of all items & rubbish upon completion. If you think it may not be you could ask to view again prior to exchanging & refuse to exchange until it is cleared. Another option would be to ask your solicitor to keep back a sum which would cover costs of skip hire & removal of rubbish etc. Im sure they can advise you of the best course of action here.

Officially Monday now. Hopefully we exchange contracts in the morning! Everything crossed! 🤞

Yes, fingers crossed for everyone expecting some movement today!

Thanks Moving and fingers crossed it all goes smoothly today. What a rollercoaster you've been through!

We're going to view a house later but after that one I'll hold off viewing any more until we have exchanged, I think. Since we're renting we don't have the pressure to buy at the same time as selling. It makes it so much more stressful to be in a chain.

Hope exchange has happened for you @MovingNextYearHopefully

We need a buyer by the end of the week or else the vendor of the house we want is putting it back on the market. I can’t bame them but am just really disappointed as it was perfect for us.

It is so frustrating! Houses usually sell really quickly here but the combination of a slow time of year and Brexit uncertainty seems to have ground the market to a halt.

I’m not even browsing Rightmove again until we have a buyer.

hi moving sorry to hear you've had another stressfull weekend. Jope exchange has gone ahead!

we are still waiting for our money back for early repayment charges from Santander. They said 3-5 days straight into my bank account, that was last Monday.

Called again this morning, no its actually 14 days and it will get sent back to the entirely useless solicitor who paid it wrong in the first place!

God help me. I am worried ill never get it back!

Moving and Usually - keeping everything crossed that you exchange smoothly today!

No blinking idea what's happening with our sale and purchase - thought we'd agreed on 30 November completion date and exchange on Wednesday on the basis of buyer providing 10% deposit and us using that as the deposit on our onward purchase - only to have our buyer tell the estate agent late on Friday that he's only got a 7% deposit as the rest of the cash is coming from remortgaging a property he owns and that can only be drawn down on upon completion. Hopefully our sellers will accept a very small deposit indeed, otherwise its all off...

dinky we didn't have a deposit at all, all the funds came from our sale and that was fine!

OMG I'm so nervous! Have given authorisation to solicitors to exchange today, yet again, but they haven't heard from the buyers solicitors yet. Not heard a thing about the short term let yet, which is incredibly worrying. We do still have the short term rental as a possibility. I just want to know whats happening now!

MovingNextYearHopefully, how is going? We are all waiting to hear from you.

A bit bad news here, our buyer just pulled out today due to the change of circumstances. The vendor of our dream house has agreed to wait for a couple of weeks before back onto the market (gives us chance to find another buyer). I am so fed up now and feeling down.

Say you've exchanged @MovingNextYearHopefully 🙌🏻🤞

Well I didn’t exchange again today, if we pull it together early tomorrow it could still work out but I just don’t see how it will happen. I managed to do a lot of chasing today around work but tomorrow I have a really full on day and simply won’t be able to. No one else gives a monkeys!

Moving....I dearly hope you managed to exchange!